Steak ‘n Shake sues lender Fortress after averting bankruptcy
Steak ‘n Shake Inc. is accusing the investment firm of misusing confidential business information in a scheme to take control of the restaurant chain’s assets.
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Stock market bounces back from big early losses
The reversal came after after reassuring comments from Federal Reserve Chairman Jerome Powell on inflation and the outlook for growth spurred traders to buy the dip.
Kohl’s faces activist group seeking control of board
Kohl’s Corp. is under pressure from a group of activists who want to name nine directors to control its board and are pressing the retailer to reduce inventory and end its “dizzying array of promotional gimmicks.”
Stocks pare gains while bonds extend losses
U.S. stocks turned mixed as benchmark Treasury yields climbed to the highest levels in a year, renewing concern that rising borrowing costs and price pressures could derail the economic recovery.
One of 10 in United States might have to switch occupations after pandemic
Women, minorities, the young and the less educated will probably be the hardest hit by what consultant firm McKinsey & Co. foresees in a new report as an unprecedented hollowing out of low-wage work in retail, hospitality and other industries.
Global airline maps are being overhauled to reflect new demand
Airlines are getting scrappy, shifting operations to wherever there may be demand. The Cliffs Notes version: Leisure is in, business travel is out.
U.S. consumer sentiment unexpectedly falls to a six-month low
Elevated unemployment, limited social activity because of COVID-19 and a slow pace of vaccinations are depressing sentiment
Lilly’s COVID-19 antibody combo gets U.S. emergency authorization
The combo treatment is the second COVID-19 antibody therapy from the Indianapolis-based drugmaker to gain an emergency authorization from the FDA.
Why dealmakers expect tech M&A to keep up its red-hot run
Salesforce.com Inc.’s December announcement that it was buying Slack Technologies Inc. for $25 billion—the largest software deal of the year—could spur other companies to revisit their wish lists, advisers said.
Eli Lilly, Glaxo join forces to test COVID-19 antibody cocktail
GlaxoSmithKline and partner Vir Biotechnology Inc. have teamed up with Indianapolis-based Eli Lilly and Co. to test a combination of their COVID-19 antibody treatments to see whether they can better combat the virus and its variants together.
A year of poor planning led to carmakers’ massive chip shortage
Carmakers with more software and chip expertise are set to face a smoother ride, while those whose traditional strength is metal-bending are potentially more prone to supply hiccups.
Walmart expands vaccination effort to Indiana, six other states
The world’s largest retailer, which had already been providing inoculations to eligible people in New Mexico and Arkansas, will broaden the effort to select stores in more states.
Lilly says its COVID-19 antibody helps reduce risk in nursing homes
Lilly’s announcement Thursday comes as the disease continues to hit hard in U.S. nursing homes, accounting for more than 100,000 deaths of residents and staff over the course of the pandemic.
Stocks suffer worst loss in a week on weakening economic reports
Stocks have run out of steam since the S&P 500 set a record high a week ago amid optimism that COVID-19 vaccines and more stimulus from Washington will bring an economic recovery.
Christopher & Banks files bankruptcy, closing stores
The publicly traded chain said in a statement that it expects to close “a significant portion, if not all” of its 449 physical stores. The retailer has three stores in the Indianapolis area.
Staples seeks to buy Office Depot parent in $2.1 billion deal
Staples previously tried to buy Office Depot, but the $6.3 billion acquisition was called off in 2016 amid antitrust scrutiny.
It’s wise to be skeptical of 2021 market forecasts
If anything, 2020 should have proven once and for all the futility of trying to make accurate market predictions.
Simon Property Group executive takes over as interim CEO at JC Penney
The new owners of JC Penney replaced CEO Jill Soltau less than a month after re-launching the department store chain that went bankrupt during the pandemic.
Stocks close at new highs after signing of COVID-19 rescue package
U.S. investors cheered the U.S. aid package, restoring some of the optimism that drove global stocks to a record this month even as the pandemic escalated.
S&P 500 slumps on virus angst after European rout
A new variant of the coronavirus in the U.K. and a wave of lockdowns and travel restrictions damped global trading, but in the U.S. a stimulus deal kept bigger losses at bay.